General – Sale PSV
Nam Cheong has entered into a sales agreement to divest an 11-year-old 3,000 DWT Platform Supply Vessel (PSV) for US$19.8 million to an Indonesian customer.
Delivery expected to be completed in 1Q2026.
The vessel is intended for immediate deployment in Indonesia, aligning with the pickup in offshore activities where upstream oil & gas investments reached a decade-high in 1H2025.
This transaction forms part of the Group’s fleet reprofiling and capital recycling initiatives, and is expected to contribute positively to earnings for FY2026. Net proceeds will be allocated towards accelerating debt repayment and funding working capital needs, further strengthening balance sheet resilience.
Following the sale, Nam Cheong will manage a fleet of 36 OSVs with an average vessel age of 9 years, providing the Group with flexibility to generate recurring income through chartering or to monetise assets opportunistically in line with market conditions.
